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Chapter 12: Nonbank Finance
Synopsis
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This chapter introduces the student to a wide array of nonbank financial institutions. Not long ago this group of institutions was more appropriately studied in a course on financial institutions and of little importance to students of money and banking. Recent financial innovation, however, has erased many of the barriers that once separated banks and nonbank financial institutions, blurring the distinction between courses in financial institutions and money and banking. For this reason, a brief overview of the types and activities of these institutions provides the student with a better understanding of the functioning and structure of financial markets.
For a more detailed chapter review with additional exercises and self-tests, order the Student Study Guide, ISBN 0-321-19416-0.
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